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3 years ago

A paid-up nonforfeiture benefit will become effective as specified

Business

1 answer:

vitfil [10]3 years ago

8 0

Answer:

Sixty days

Example:

That a specified paid-up nonforfeiture benefit shall become effective as specified in the policy unless the person entitled to make such election elects another available option not later than sixty days after the due date of the premium in default.planation:

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On January 1, 2015, a company had 250,000 shares of its $2 par value common stock outstanding. On March 1, the company sold an a

blsea [12.9K]

Answer:

Answer is Option C: 750,000.

Explanation:

A stock dividend is a payment that is made to the shareholders in shares and not in cash. It increases the number of common shares that are representing the shareholder's investment. When this occur, a company needs to restate the shares that were outstanding before the stock dividend.

When we calculate the weighted-average number of shares outstanding for 2015, we sum it for the whole year for all quarters.

Total for the whole year will come as 750,000.

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3 years ago

Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.8 million ca

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Answer:

A a) Journal Entry for Precision Castparts

Debit Bank $39.8 million Credit Note Payable $39.8 million

b) Journal Entry for Midwest bank

Debit Note Receivable $39.8 million Credit Bank $39.8 million

B a) Journal Entry for Precision Castparts

Debit Interest Expense $796,000 Credit Interest Payable $796,000

b) Journal Entry for Midwest bank

Debit Interest Receivable $796,000 Credit Interest Income $796,000

C a) Journal Entry for Precision Castparts

Debit Note Payable $39.8 million Debit Interest Payable $796,000 Debit interest Expense $2,388,000 Credit Bank $42,984,000

b) Journal Entry for Midwest bank

Debit Bank $42,984,000 Credit Note Receivable $39.8 million Credit Interest Receivable $796,000 Debit interest Income $2,388,000

Explanation:

Interest up to 31 Dec 2021

Interest = 39,800,000*8% = $3,184,000*3/12 =$796,000

8 0

3 years ago

Gideon Company uses the direct write-off method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off

zloy xaker [14]

Answer and Explanation:

The Journal entry is shown below:-

Bad debts expense Dr, $2,000

To Accounts receivable-Hopkins $2,000

(Being write off is recorded)

Here we debited the bad debt expenses as it increased the expenses and we credited the accounts receivable as it reduced the assets so that the proper posting could be done

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3 years ago

Groupe Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. T

lions [1.4K]

Answer:

$8,331 Favorable

Explanation:

The computation of activity variance for plane operating costs is shown below:-

For computing the activity variance for plane operating costs we need to find first the expected cost which is shown below:-

Expected cost = $36,240 + ($2,058 × 84) + (1 × 239)

= $36,240 + $172,872 + 239

= $209,351

Activity variance for plane operating costs in October = Expected - Actual

= $209,351 - $201,020

= $8,331 Favorable

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3 years ago

Dalia prefers the numbers in her excel document to show up as dollar amounts like “$5,234.15” instead of as numbers like “5234.1

defon

Answer:

"5,234.15" is the most useful way

4 0

3 years ago